Steelcase Inc. (SCS) saw a massive 62.87% surge to hit a record high after news of its $2.2 billion acquisition by HNI Corporation. Share prices soared, closing at $16.58 per share. The deal includes $7.20 in cash and 0.2192 shares of HNI stock per SCS share, valued at $18.30 per share.

The merger is expected to create a company with approximately $5.8 billion in annual revenue, $745 million in Adjusted EBITDA, and 2.1x net leverage. While SCS shows promise, consider AI stocks for higher returns. Explore a report on a budget-friendly AI stock benefiting from Trump tariffs and onshoring.

Read more at Yahoo Finance: Steelcase (SCS) Soars to New High on $2.2-Billion Merger With HNI Corp.